§ 47C-4-105. Same; time share. - North Carolina Statutes

§ 47C‑4‑105. Same; time share.

(a)        If the declaration provides that ownership or occupancy ofany units are or may be owned in time shares, the public offering statementshall disclose, in addition to the information required by G.S. 47C‑4‑103:

(1)        The number and identity of units in which time shares may becreated;

(2)        The total number of time shares that may be created;

(3)        The minimum duration of any time shares which may becreated; and

(4)        The extent to which the creation of time shares will or mayaffect the enforceability of the association's lien for assessments provided inG.S. 47C‑3‑116.

(b)        The provisions of subsection (a) apply to all purchasers ofunits in the condominium. In addition, the purchaser of time shares shallreceive the information required by G.S. 93A‑44. (1985 (Reg. Sess., 1986), c. 877, s. 1.)